CBC Digital Archives

Garth Turner: "sheer panic"

They tell you how to save your money and your financial future, what causes a recession and how you can survive it, where to invest your hard-earned cash, and perhaps more importantly where not to invest it. They are the money experts whose prognostications and analyses are echoed across the media. The CBC Digital Archives looks back at some of Canada's best-known financial forecasters

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The global financial euphoria of 1986 and 1987 has come to a sudden and catastrophic halt, with the largest single-day stock market crash in history. It's "Black Monday" and Garth Turner is there to witness it firsthand. From his seat as the business editor for the Toronto Sun, he offers the lowdown on this CBC-TV clip. Is this crash comparable to 1929? "I regret to inform you that it's worse," Turner says.
• After his first stint in politics, Baton Broadcasting hired Turner as their business editor. He soon became a popular public speaker on financial issues, and also authored a series of books on real estate and personal finance. In 1997 he founded the television production company, Millenium Media Television Enterprises. According to garthturner.com, Millenium is the country's largest independent producer of network television programming

• Turner and Millenium Media came under fire in 2002 when CBC's Disclosure aired the report "Paying for Time," which alleged that Millenium Media Television's programs occasionally broadcast unattributed quasi-commercials. During this time Turner caught the attention of the Ontario Securities Commission for his work with different investment companies as a paid presenter. The OSC launched an informal investigation of Turner, who was never a registered investment adviser, but the case was soon abandoned.

• Turner has championed environmental and ecological causes on several fronts. He has served as the national director of the Sierra Legal Defence Fund, a Vancouver-based organization dedicated to the legal defence of a healthy environment in Canada. He is also the founder and former CEO of the Credit River Company, noted for restoring heritage buildings in the Caledon, Ont. area.

• Turner's environmental interests have extended into retail. In 2009 he started the online store xurbia.ca, offering products and equipment for renewable and alternative energy.

• Turner has also served as national spokesperson for the Alzheimer Society of Canada.

• Turner's recent publishing ventures include the 2008 book Greater Fool, The Troubled Future of Real Estate, in which he dissects Canada's volatile urban real estate market, and 2009's After the Crash, his examination of the North American financial crisis.

• In 2009 Turner also published his first political book Sheeple, his personal account of politics in the Stephen Harper-led Conservative government.

Medium: Television
Program: CBLT News
Broadcast Date: Oct. 19, 1987
Guest(s): Garth Turner
Host: Janice Neil
Duration: 2:25

Last updated: May 23, 2013

Page consulted on October 9, 2014

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